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For instance, during the J.D. Power Auto Summit in early 2024, Banks told the attendees that despite the price drops in the used car market, consumers are still paying 20% more than in 2021.
Timing is everything in life. And with used car prices still 29.6% higher than pre-COVID-19 pandemic levels, according to a study from used car search engine site iSeeCars, timing your used car...
“Prices may drop due to the normal end of year cycle,” says Gretchen Seidel CFEI®, ... Used Car Prices Are Down. Prices for used cars are down 23% from their 2022 peak. This is mostly due to ...
CoPilot compares current used car prices to the replacement cost of a comparable new car and finds rising prices. ... and $20,000 for used cars (30% in 2024, a drop from 53% in 2020). ...
When Will the Used Car Market Bounce Back? The Jerry study found that the used car market will not return to pre-pandemic levels anytime soon. In 2019, there were 13.1 million used cars on the market.
Currently, used cars remain pricey. The average used-vehicle listing price was $25,328 in early February, according to research from Cox Automotive. That’s down from the previous couple of years ...